Infectious Disease Diagnostics Market Owing to the Increasing Prevalence of Infectious Diseases

According to Precision Business Insights (PBI) latest report, the infectious disease diagnostics market is expected to be worth USD 34,599.0 million in 2022, growing at a 6.4% CAGR from 2022 to 2028. Global Infectious Disease Diagnostics Market By Product (Reagents, Kits, and Consumables, Instruments and Software & Services), By Type of Testing (Laboratory Testing and POC Testing), By Technology (Immunodiagnostics, Clinical Microbiology, PCR, INAAT, DNA Sequencing & NGS, DNA Microarrays and Others), By Disease Type (COVID-19, HIV, HAIs, Hepatitis, CT/NG, HPV, TB, Influenza, and Others), By End User (Diagnostic Laboratories, Hospitals & Clinics, Academic Research Institutes, and Others) and Geography Forecast to 2028.

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Reagents Dominate the Infectious Disease Diagnostics Market:
Emulsifiers accounted for 17.1% of the market and are expected to grow at a CAGR of 5.9% between 2022 and 2028. The growing usage of reagents in hospitals and clinical laboratories to diagnose infectious diseases drives the infectious disease diagnostics market.

The Asia Pacific Leads Infectious Disease Diagnostics Market:
The Asia Pacific holds a market share of 27.9% in 2021 and is expected to create significant opportunities over the forecast period. It is projected to grow at a CAGR of 7.1% in the coming years. The region's infectious disease diagnostics market is being boosted by the government of India, in 2020 announced the launch of three state-of-the-art high throughput Indian Council of Medical Research labs in Kolkata, Mumbai, and Noida, in order to increase the number of COVID-19 testing capacity.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The Global Infectious Disease Diagnostics market further reveals that the key players increasingly adopting strategies such as the launch of newer products, frequent product approvals, and long-term alliances to improve market revenue share and gaining significant geographic presence across the region. For instance, In May 2021, Torus Biosystems revealed USD 25 million series A financing to advance infectious disease diagnostics across healthcare settings.

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Key player's profiles in the report are Abbott Laboratories, Becton Dickinson and Company, bioMerieus SA, Bio-Rad Laboratories, Danaher Corporation, F Hoffman-La Roche, Hologic Inc., Luminex Corporation, Qiagen Inc., and Thermo Fisher Scientific Inc.

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